Steinberg Global Asset Management purchased a new stake in shares of Regeneron Pharmaceuticals Inc (NASDAQ:REGN) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,496 shares of the biopharmaceutical company’s stock, valued at approximately $515,000.
A number of other large investors also recently added to or reduced their stakes in REGN. Bank of New York Mellon Corp grew its holdings in Regeneron Pharmaceuticals by 1.3% during the third quarter. Bank of New York Mellon Corp now owns 604,944 shares of the biopharmaceutical company’s stock valued at $244,420,000 after purchasing an additional 7,520 shares during the period. Virtu Financial LLC bought a new position in shares of Regeneron Pharmaceuticals in the third quarter worth about $236,000. Dimensional Fund Advisors LP boosted its stake in shares of Regeneron Pharmaceuticals by 3.3% in the third quarter. Dimensional Fund Advisors LP now owns 177,466 shares of the biopharmaceutical company’s stock worth $71,706,000 after acquiring an additional 5,605 shares during the period. LPL Financial LLC boosted its stake in shares of Regeneron Pharmaceuticals by 1.6% in the third quarter. LPL Financial LLC now owns 21,128 shares of the biopharmaceutical company’s stock worth $8,537,000 after acquiring an additional 329 shares during the period. Finally, BlueMountain Capital Management LLC boosted its stake in shares of Regeneron Pharmaceuticals by 89.8% in the third quarter. BlueMountain Capital Management LLC now owns 1,919 shares of the biopharmaceutical company’s stock worth $775,000 after acquiring an additional 908 shares during the period. 66.97% of the stock is owned by institutional investors and hedge funds.
In other Regeneron Pharmaceuticals news, major shareholder Sanofi sold 131,115 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $412.17, for a total transaction of $54,041,669.55. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 12.42% of the company’s stock.
Regeneron Pharmaceuticals (NASDAQ:REGN) last posted its earnings results on Wednesday, February 6th. The biopharmaceutical company reported $6.84 EPS for the quarter, topping analysts’ consensus estimates of $5.10 by $1.74. Regeneron Pharmaceuticals had a return on equity of 29.77% and a net margin of 36.43%. The company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the previous year, the business earned $5.23 earnings per share. The firm’s revenue for the quarter was up 21.9% on a year-over-year basis. On average, equities research analysts anticipate that Regeneron Pharmaceuticals Inc will post 19.92 EPS for the current year.
A number of equities analysts have recently weighed in on REGN shares. Guggenheim lowered Regeneron Pharmaceuticals from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $466.00 to $425.00 in a research note on Friday, February 22nd. TheStreet raised Regeneron Pharmaceuticals from a “c+” rating to a “b” rating in a research note on Thursday, January 17th. Zacks Investment Research raised Regeneron Pharmaceuticals from a “hold” rating to a “buy” rating and set a $472.00 price objective for the company in a research note on Thursday, February 7th. BidaskClub lowered Regeneron Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 7th. Finally, Cowen reaffirmed a “hold” rating and issued a $385.00 price objective on shares of Regeneron Pharmaceuticals in a research note on Monday, January 7th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $413.76.
About Regeneron Pharmaceuticals
Regeneron Pharmaceuticals, Inc, a biopharmaceutical company, discovers, invents, develops, manufactures, and commercializes medicines for treating various medical conditions worldwide. The company's products include EYLEA injection to treat wet age-related macular degeneration and diabetic macular edema (DME); myopic choroidal neovascularization; and diabetic retinopathy in patients with DME, as well as macular edema following retinal vein occlusion, including macular edema following central retinal vein occlusion and macular edema following branch retinal vein occlusion.
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